DMCI Holdings Inc. is declaring a P9.56 billion dividend out of last year’s operations results, equivalent to 39 percent of the company’s core profit.
The dividend is divided into a P0.46 per share regular cash dividend and another P0.26 per share special cash dividend, for a total of P0.72 per share.
The group has a dividend policy of at least 25 percent of the preceding year’s consolidated core profit.
The dividends will be payable on May 3 for shareholders holding company shares as of April 18.
Based on its April 3 closing price of P12.28, DMCI Holdings’ total dividend translates to a cash dividend yield of 5.9 percent, the company said.
DMCI Holdings earlier said profit last year dropped 20 percent to P24.9 billion from P31.1 billion.
Higher net income contributions from the real estate, off-grid energy, and water utility businesses muted the impact of lower contributions from the integrated energy, nickel and construction subsidiaries, the company said.
Revenues dropped 14 percent to P122.8 billion from P142.6 billion with the normalizing coal, nickel and electricity prices, alongside a slowdown in construction and real estate activities, and an increase in revenue reversals stemming from the cancellation of real estate sales.
